Omantel's net profit hits USD89.1mn in Q1

(MENAFN) Omantel said it posted a net profit in the first quarter of USD89.1 million, up 18.1 percent, compared to USD75.4 million in the same period a year earlier, Times of Oman reported.
The Omani Telecommunications Company said its revenue for the period increased 5 percent, hitting USD 311.3million compared to USD296.6 million a year earlier.
The company attributed the increased to the growth of the company's operations, especially wholesale growth at 29 percent.
"We are proud to see these results which reaffirm the success of Omantel strategy to improve its operations benefitting from the unique geographical location of the Sultanate," Chief Executive said.